Shree Renuka Sugars Receives ₹15.3 Crore GST Penalties

Shree Renuka Sugars received two GST penalty orders totaling ₹15.27 crore from Belagavi authorities for alleged ITC violations.
The first order imposes a ₹10.53 lakh penalty for non-reversal of ITC on damaged goods covered by insurance claims.
The second order confirms a tax demand with an equal penalty of ₹1.42 crore for availing excess blocked ITC credit.
The company has filed appeals against both orders, stating no material financial impact and strong merit in its position.